Job cut News

UPS said that it will reduce operational workforce by approximately 20,000 positions during 2025 and close 73 leased and owned buildings by the end of June 2025.

The reported layoffs came as the company faces challenges in its core food delivery business and rising losses in its quick commerce subsidiary, Blinkit.

Nokia, which currently has 86,000 employees on its rolls, plans to bring the headcount down to between 72,000 and 77,000.

According to a report in Insider, citing sources, the new layoffs are beyond the 10,000 jobs that the tech giant planned to eliminate earlier this year.

In May, Microsoft slashed 158 jobs in Washington State which were not not part of the 10,000 announced earlier.

In Israel where it was founded in 1982, Amdocs will slash 200 jobs, a reduction of approximately 4 per cent, according to a report in Israel-based website Calcalist. 

With more Big Tech companies like Microsoft and Google joining the ongoing layoff season, about 3,000 tech employees are now being laid off per day on average in January globally, including in India.

Ola sacked 200 employees from its technical and product division. In 2022, the taxi aggregator let off about 1100 workers. According to the Inc42 article, the corporation started making cuts earlier this week.

The Amazon CEO said in a statement that they were not done with the annual planning process as earlier mentioned, and "I expected there would be more role reductions in early 2023".

Kristalina Georgieva, the chief of the International Monetary Fund (IMF) made these grim assertions on Sunday during a CBS news programme "Face the Nation."

The company has about 81,567 employees and the layoffs will touch "nearly every corner of the global investment bank".

According to Axios, more than 3,000 jobs have been cut till October this year in the media industry, and more are on the way.

Nearly 1 lakh people are employed by Amazon, while the job cut is more likely to happen across engineering and other departments, said media reports.

According to a New York Times report, the biggest e-commerce company Amazon is about to lay off employees on a large scale. In the name of cost cutting, they are preparing to fire about 11,000 employees. This will be the biggest layoff ever in Amazon's history.

In one of the worst lay-offs ever in the tech industry after Twitter - which saw 90 per cent of India team being sacked - Meta Founder and CEO Mark Zuckerberg fired about 13 per cent of the global workforce and extended hiring freeze through Q1 2023.

The company is expected to cut thousands of employees beginning Wednesday, and this will likely be the largest of the year to date in the tech sector, the Wall Street Journal reported, citing people in the know about the matter.

B2B unicorn udaan has fired 300-350 employees across India It said that employees were sacked on account of role redundancies and cost cutting measures Few of the employees were intimated about the layoff on Friday morning

Some of the employees who lost their jobs at Twitter India and did not wish to be named told IANS that when they logged in to their systems from home (Twitter is still in the work-from-home mode) on Friday, they were denied access.

The payment processor cited "stubborn inflation, energy shocks, higher interest rates, reduced investment budgets, and sparser startup funding" as reasons for its decision.

A memo from its CEO, David Mou said the cuts would affect employees across the company, including at headquarters and among clinical care staff and support workers.